"American Idol" has only been off the air a year, but seems it's still the hottest property out there, because we've learned ABC has now made an offer to buy the show.

Sources at ABC and Fremantle say the network contacted Fremantle last week and made the bid, and that the network wanted to reboot the show for a March 2018 premiere.

ABC also inquired about making Ryan Seacrest the host, but even last week the network knew it was on the verge of signing Ryan as co-host of 'Live' with Kelly Ripa. As a result,ABC was asked if the show could be shot in New York, which is now Ryan's home base. Our sources say Fremantle made it clear ... NYC was a no-go. The show will be shot in L.A.

Ryan hasn't been approached by ABC about hosting the show. But ABC sources say it's virtually out of the question, given his commitment to 'Live.'

NBC and FOX were in a bidding war a few months ago to get the show, but Fremantle stopped negotiating because of fighting with CORE, co-owner of 'A.I.'